Rakebk / Exchanges / ApeX vs Kraken
ApeX vs Kraken: which costs less after the rebate?
It depends on your monthly volume:
Under $25M: ApeX is cheaper · $275 vs $400 at $1M
From $25M up: Kraken is cheaper · $28,800 vs $44,000 at $200M
Cheaper under $25M
ApeX
45% back · fee 0.05%
$275
net cost at $1M / month
VS
Cheaper from $25M up
Kraken
20% back · fee 0.05%
$400
net cost at $1M / month
Your monthly volume$1M
$100K$1M$10M$100M$1B
ApeX code · 45% back
RAKEBK45
Kraken code · 20% back
35c3kz8s
Cheaper under $25MApeX
ApeXsaves $125 a month at $1M
Cheaper from $25M upKraken
Krakensaves $15,200 a month at $200M
Fee after rebate at $1MApeX0.0275%Kraken0.0400%
ApeX0.0275%Kraken0.0400%Saving at $1M
$125
a month on ApeX · $1,500 a year
What every $1M you trade costs, after the rebate
The more you trade, the cheaper each exchange's fee tier gets. Where the lines cross, the cheaper exchange changes. Hover to price any volume.
ApeXKrakenWhat you actually pay each month
Trading fees minus the rebate, at five monthly volumes. Green is the cheaper one.
Volume / month
ApeX netKraken netDifference
$100K
$28
$40
ApeX saves $13
$1M
$275
$400
ApeX saves $125
$10M
$2,750
$3,200
ApeX saves $450
$50M
$12,375
$10,000
Kraken saves $2,375
$500M
$96,250
$60,000
Kraken saves $36,250
Which one is for you
Choose ApeX if
- You trade under $25M a month: it costs you less after the rebate
Choose Kraken if
- You trade $25M a month or more: it costs you less after the rebate
- You also trade spot: ApeX does not offer it
Side by side
ApeXKrakenRebate
45%
20%
Entry taker fee
0.05%
0.05%
Fee after rebate
0.0275%
0.0400%
Net cost at $1M
$275
$400
Markets
Perpetuals
Perpetuals, Spot
Payout
Auto, usually 24h
Auto, usually 24h
Code
RAKEBK45
35c3kz8s
ApeX
- ApeX measures volume over a rolling 14 day window, not 30 days.
- The thresholds above are the published 14 day figures scaled to a monthly equivalent so they can be compared with the other venues.
- Staked $APEX also moves you up a level and is not modelled here.
- Prediction markets on ApeX are priced separately and are not what these figures quote.
Kraken
- Kraken Futures is a separate product from Kraken spot and is priced far lower, so switch the toggle rather than reading one ladder for both.
- Since July 2026 Kraken sets ONE tier across the whole platform, on the best of your 30 day spot volume, your 30 day futures volume or the assets you hold there, read live rather than averaged, so spot trading can be what earns you a cheaper futures fee.
The two fee ladders
The evidence behind every figure above, as each exchange publishes it.
ApeX · Derivatives
Tier
30-day volume
Maker
Taker
Level 1
$0
0.02%
0.05%
Level 2
$10,714,286
0.015%
0.045%
Level 3
$53,571,429
0.01%
0.04%
Level 4
$214,285,714
0.005%
0.035%
Level 5
$1,071,428,571
0%
0.03%
Level 6
$2,142,857,143
0%
0.028%
Level 7
$4,285,714,286
0%
0.025%
Kraken · Derivatives
Tier
30-day volume
Maker
Taker
Tier 1
$0
0.02%
0.05%
Tier 2
$5,000,000
0.0175%
0.045%
Tier 3
$10,000,000
0.015%
0.04%
Tier 4
$15,000,000
0.0125%
0.035%
Tier 5
$25,000,000
0.01%
0.03%
Tier 6
$40,000,000
0.0075%
0.0275%
Tier 7
$50,000,000
0.005%
0.025%
Tier 8
$75,000,000
0.005%
0.0225%
Tier 9
$100,000,000
0%
0.02%
Tier 10
$150,000,000
0%
0.018%
Tier 11
$250,000,000
-0.003%
0.0175%
Pro 1
$400,000,000
-0.003%
0.016%
Pro 2
$500,000,000
-0.005%
0.015%
Pro 3
$1,000,000,000
-0.006%
0.0135%
Pro 5
$5,000,000,000
-0.006%
0.0125%
Questions
Which is cheaper, ApeX or Kraken?
It depends on your monthly volume:
- Under $25M: ApeX is cheaper · $275 vs $400 at $1M
- From $25M up: Kraken is cheaper · $28,800 vs $44,000 at $200M
Why does the bigger rebate not always win?
A rebate is a share of the fee. A higher fee can hand back more dollars and still cost you more.
- ApeX: 45% back on a 0.05% fee → you pay 0.0275%
- Kraken: 20% back on a 0.05% fee → you pay 0.0400%
- What you pay is the fee after the rebate, not the rebate %
Can I use both codes?
Yes.
- They are separate exchanges, so each account gets its own rebate
- Open each one through its own Rakebk link or code
- A code only works on a new account
How are these numbers worked out?
- Every order counted as a taker
- At the fee tier your monthly volume reaches on each exchange's published ladder
- Minus the rebate
- Both ladders are on this page, read from each exchange's own fee page
- Updated 23 Sep 2026
